USDJPY Daily Analysis – June 20, 2018

USDJPY broke below the bottom support trend line of the price channel on the 4-hour chart, suggesting that the upside movement from 108.11 had completed at 110.90 already. Another fall could be expected and next target would be at 108.50 area. Near term support is at 109.55, a breakdown below this level could signal resumption of the downtrend. Resistance is at 110.50, only break above this level could trigger another rise towards 111.50.

USDJPY 4-hour chart